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Nana's Notes
by SherylTrades
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I knit, I fish, I Nana. Retired microbiologist turned day trader, going on three decades with the markets.
This newsletter does not constitute financial advice, and reflects only the personal views of the author. Making money with day trading is notoriously difficult; please see MFT's earnings disclaimer here.
Defining "The Perfect Trade"
Dear Market Flow Trader Family,
This past week I started a thread in the community asking our members, “Tell me your criteria for entry. Which boxes do you check before placing a trade?”
The answers varied, of course, because we are a diverse bunch, each operating at different levels of trading experience. One interesting theme emerged, however: newer traders listed fewer criteria than our more experienced traders.
When I was a new trader, my mentor demanded I give him an exhaustive list of criteria to create “The Perfect Trade.” That certainly seemed like a worthy undertaking. Who doesn’t want to know what a perfect trade looks like? My original list of “Boxes to Check” truly was exhaustive. I soon realized that each criterion I added improved my winning percentage, but disqualified another group of trades...until there were almost no trades to be made at all!
Family, that may lead you to wonder, Okay so where’s the sweet spot? I want to trade quality setups and avoid over-trading, but I also don't want "criteria overload" to keep me out of good trades, right?
I believe that setups taught within Market Flow Trader address this question exceptionally well. Patrick has identified a handful of setups that we in the Market Flow Trader Community practice LIVE, every day—and they work.
Sage was traveling on Thursday, so I stepped into his very big shoes at the Live Trading Desk. It was a horrible session to trade, if I may be honest. We identified just three MFT setups in two hours. Two winners and one stopped out breakeven. That happens sometimes. You know what we didn’t do? We didn’t guess. We didn’t force anything. We didn’t suffer a loss. Winners are nice, but capital preservation is equally as important, and both are more likely when you follow the MFT concepts and check your boxes. I have never lost money on a trade I didn’t take. Never. The goal, as always, is FEWER, BETTER TRADES!
I've enjoyed seeing the Market Flow Trader Community grow. Our members are growing as traders, of course, but our actual membership has tripled since I joined! If you're new here (and even if you've been around) you should be ever-exploring the resources on the Members’ Home Page, as materials are constantly being added. The team has also recently published a new Resources and Links section, where you can find tools, shortcuts to helpful member posts, and Frequently Asked Questions.
Also top of mind for those of you who have joined us recently should be the Consistency Accelerator program, which addresses every trader challenge from Edge to Process to Mindset. It’s designed to help traders become independently consistent—without training wheels, signal services, or some secret indicator.
“We’re doing something here in the MFT community that nobody else is doing. We’re showing you an END to END approach to becoming a professional, consistent trader, and doing it in a highly effective environment." —Taylor S, MFT Consistency Coach
MFT's Consistency Accelerator is a monthly subscription—start and stop anytime—and if you snag one of the first few spots you lock in special pricing, just use the coupon code FAST100. Believe me when I tell you this: NOBODY gives you access to a program like this with professional coaching at the current price point!! It’s unheard of in the industry, and the program is 100% aligned with our mission of helping more traders become consistently profitable. You have ZERO excuses for not being on a path to profitability given all the resources available to you in MFT!
“Grateful for our group session yesterday. Taylor asked us great questions. It helped me to follow my process. I Hit my goal (650.00). I am out for the day!” ~R.V., member
If you missed Taylor S's livestream last week on "How to Reach Consistency," you can rewatch it here.
And so another week begins! Every morning, starting at 0800 Eastern, we gather at The Live Trading Desk, led by Pro Trader and MFT Coach Reven Wood (Sage). We discuss “what we are looking for,” we identify and verify our MFT setups as they develop as a group, and we check those trade criteria boxes long before we place our trades. I find great value in that and believe you will too.
I hope to see you there with us tomorrow, pre-market.
To your success,
SherylTrades
